April 11, 2017 Comments Off on BP Divests Helios Plaza in Sale-Leaseback Views: 589 National News, Southwest, Texas

BP Divests Helios Plaza in Sale-Leaseback

Houston-based Woodbranch Investments Corp. acquired Helios Plaza, a 390,000-square-foot office building in Houston’s Energy Corridor in a sale-leaseback transaction with BP. The Westlake Campus asset was acquired for an undisclosed amount.

Located at 201 Helios Way, Helios Plaza was constructed in 2010 to house BP’s trading operations. The facilities’ 1,100 people were involved in energy marketing and trading operations, upstream learning center, and wind energy business.

BP, which employs roughly 5,000 in Houston, is shrinking its footprint. The majority of BP’s employees have been consolidated into Westlake One, a 949,000-square-foot tower at 501 Westlake Park Blvd.

JLL’s Brian Shanfeld, Bob Dmytryk, Jason Dewitt, Louis Rosenthal and Bruce Rutherford handled the transaction. The building and surrounding land was appraised at $126 million by the Harris County Appraisal District.

Read more at Houston Chronicle

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